Virtus Advisers LLC Purchases New Stake in Globe Life Inc. $GL

Virtus Advisers LLC acquired a new position in shares of Globe Life Inc. (NYSE:GL) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 12,723 shares of the company’s stock, valued at approximately $2,273,000. Globe Life comprises 0.9% of Virtus Advisers LLC’s investment portfolio, making the stock its 19th biggest holding.

A number of other large investors also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Globe Life by 6.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 9,391 shares of the company’s stock worth $1,237,000 after buying an additional 607 shares during the last quarter. NewEdge Advisors LLC grew its holdings in Globe Life by 368.1% during the 1st quarter. NewEdge Advisors LLC now owns 6,806 shares of the company’s stock worth $897,000 after acquiring an additional 5,352 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Globe Life by 11.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 563,021 shares of the company’s stock valued at $74,161,000 after acquiring an additional 58,163 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Globe Life during the 1st quarter valued at $428,000. Finally, Focus Partners Wealth lifted its stake in shares of Globe Life by 8.3% in the 1st quarter. Focus Partners Wealth now owns 8,559 shares of the company’s stock valued at $1,127,000 after purchasing an additional 656 shares during the period. 81.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GL has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their price objective on Globe Life from $172.00 to $193.00 and gave the company an “overweight” rating in a report on Thursday, July 9th. Piper Sandler increased their price target on shares of Globe Life from $175.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday, July 15th. Truist Financial lifted their price objective on shares of Globe Life from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. JPMorgan Chase & Co. boosted their price objective on shares of Globe Life from $181.00 to $201.00 and gave the company an “overweight” rating in a report on Tuesday, July 21st. Finally, Weiss Ratings downgraded shares of Globe Life from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, July 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $191.67.

Globe Life Trading Down 0.4%

GL opened at $170.79 on Friday. The stock has a market capitalization of $13.13 billion, a P/E ratio of 11.34 and a beta of 0.48. Globe Life Inc. has a 12 month low of $127.85 and a 12 month high of $191.55. The firm’s fifty day simple moving average is $178.28 and its 200 day simple moving average is $158.43. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.43.

Globe Life (NYSE:GL) last released its earnings results on Wednesday, July 22nd. The company reported $3.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.67 by ($0.06). The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.59 billion. Globe Life had a return on equity of 20.52% and a net margin of 19.58%.Globe Life’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same quarter last year, the company posted $3.05 EPS. Globe Life has set its FY 2026 guidance at 15.550-15.950 EPS. As a group, research analysts anticipate that Globe Life Inc. will post 15.71 EPS for the current fiscal year.

Globe Life Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Monday, October 5th will be given a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Monday, October 5th. Globe Life’s dividend payout ratio (DPR) is currently 8.76%.

Globe Life announced that its Board of Directors has approved a stock repurchase program on Monday, August 10th that allows the company to buyback $2.50 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 17.7% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Globe Life

In other Globe Life news, Director Cheryl Alston sold 8,258 shares of the company’s stock in a transaction that occurred on Thursday, June 25th. The stock was sold at an average price of $179.24, for a total transaction of $1,480,163.92. Following the completion of the transaction, the director owned 16,621 shares of the company’s stock, valued at $2,979,148.04. This represents a 33.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Frank M. Svoboda sold 10,000 shares of Globe Life stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $166.68, for a total transaction of $1,666,800.00. Following the completion of the sale, the chief executive officer owned 54,020 shares in the company, valued at $9,004,053.60. This trade represents a 15.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 151,908 shares of company stock worth $27,239,981. Corporate insiders own 2.11% of the company’s stock.

About Globe Life

Globe Life, traded on the NYSE under the symbol GL, is a U.S.-based insurance holding company that underwrites and distributes a range of life and supplemental health insurance products. Through its subsidiary brands—Globe Life, American Income Life, Liberty National Life, United American Insurance Company and Family Heritage Life—it offers term life, whole life, fixed annuities and supplemental health coverage designed to meet the needs of individuals and families across various socioeconomic segments.

The company’s product suite includes low-cost, easy-to-understand life insurance policies, accidental death and dismemberment coverage, hospital indemnity plans and specified disease insurance.